Fidelity MSCI Information Technology Index ETF (NYSEARCA:FTEC) Shares Break Below 200 Day Moving Average – Here’s Why

Fidelity MSCI Information Technology Index ETF (NYSEARCA:FTEC)’s share price passed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $261.71 and traded as low as $255.01. Fidelity MSCI Information Technology Index ETF shares last traded at $255.15, with a volume of 1,707,031 shares.

Fidelity MSCI Information Technology Index ETF Price Performance

The company has a fifty day moving average of $290.76 and a 200 day moving average of $261.90. The firm has a market capitalization of $19.30 billion, a P/E ratio of 35.45 and a beta of 1.36.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Concurrent Investment Advisors LLC acquired a new position in Fidelity MSCI Information Technology Index ETF in the second quarter valued at $1,309,000. Succession Financial Inc. acquired a new stake in Fidelity MSCI Information Technology Index ETF during the 2nd quarter worth about $3,414,000. NewEdge Advisors LLC grew its holdings in Fidelity MSCI Information Technology Index ETF by 5.0% during the 2nd quarter. NewEdge Advisors LLC now owns 36,762 shares of the company’s stock worth $10,498,000 after acquiring an additional 1,744 shares during the period. IPG Investment Advisors LLC bought a new position in shares of Fidelity MSCI Information Technology Index ETF in the 2nd quarter worth about $2,353,000. Finally, Marotta Asset Management raised its position in shares of Fidelity MSCI Information Technology Index ETF by 4.8% in the 3rd quarter. Marotta Asset Management now owns 75,679 shares of the company’s stock worth $22,708,000 after acquiring an additional 3,494 shares in the last quarter.

Fidelity MSCI Information Technology Index ETF Company Profile

The Fidelity MSCI Information Technology Index ETF (FTEC) is an exchange-traded fund that mostly invests in information technology equity. The fund tracks a market-cap-weighted index of stocks in the broad US information technology sector. FTEC was launched on Oct 21, 2013 and is managed by Fidelity.